Fred’s Inc.

MEMPHIS — Fred’s Inc. has appointed Jason Jenne executive vice president and chief financial officer. He succeeds Rick Hans, who is stepping down from the company to pursue other opportunities. Hans will remain in an advisory capacity until August 18 and will work closely with Jenne to ensure a smooth transition. Jenne joined Fred’s Pharmacy

MEMPHIS — Fred’s Inc. weighed in on the recent termination of the merger between Walgreens Boots Alliance Inc. and Rite Aid Corp. and the related asset purchase agreement of Fred’s with Walgreens and Rite Aid. In December 2016, Fred’s announced that it had signed an asset purchase agreement with Walgreens and Rite Aid to buy

NEW YORK — Fred’s Inc. and Nielsen recently announced an expansion of their long-term relationship with the renewal of data insights and analytics services. With this agreement, Nielsen will become the exclusive account-level data provider for Fred’s, covering metrics for all 601 Fred’s stores in 15 states across the southeastern U.S., as well as future

MEMPHIS, Tenn. — Fred’s Inc. has appointed two new board members as part of an agreement with hedge fund Alden Global Capital LLC, the discount and pharmacy chain’s largest shareholder. Fred’s said Monday that Steven Rossi, chief executive officer of Digital First Media, and Timothy Barton, founder and former CEO of Freightquote.com, have been named

MEMPHIS, Tenn. — Fred’s Inc. reported declined sales and net losses for its 2016 fourth quarter and fiscal year as it awaits regulatory approval to buy up to 1,200 drug stores in connection with the Walgreens-Rite Aid merger. Fred’s said Thursday that sales for the fourth quarter ended Jan. 28, 2017, fell 4.5% to $529.7

MEMPHIS, Tenn. — Fred’s Inc. has appointed senior vice presidents for general merchandise and consumables merchandising, including the hiring of a former CVS Health executive, and named a senior vice president to oversee its supply chain. The discount and pharmacy retailer said late Monday that Gregory Froton has joined the company as senior VP of

MEMPHIS, Tenn. — Fred’s Inc. has amended a revolving credit facility to provide funding in the event that it must acquire additional Rite Aid stores in connection with the pending Walgreens-Rite Aid merger. According to a filing with the Securities and Exchange Commission, Fred’s is increasing its revolving loan commitment to $225 million from $150

MEMPHIS — Fred’s Inc. has taken a huge step forward on its path toward becoming a major drug store chain by agreeing to buy 865 Rite Aid locations from Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. for $950 million in cash. The transaction, which also includes certain assets related to store operations, is

DEERFIELD, Ill. — By agreeing to sell 865 Rite Aid stores to Fred’s Inc., Walgreens Boots Alliance Inc. and Rite Aid Corp. have likely removed a major barrier to the approval and completion of their pending merger. The sale is, however, dependent on WBA first completing its acquisition of Rite Aid. The sale is a

NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s Inc. for $950 million. The all-cash transaction is subject to Federal Trade Commission approval, as well as the completion of the pending acquisition